1. The "anchor" of the pricing method is different: the benchmark interest rate pricing is the benchmark interest rate of the same term and grade announced by the People's Bank of China; LPR pricing refers to the loan interest rate anchored by the National Interbank Funding Center, which publishes the loan market quotation (LPR) for the corresponding period. The different anchor values determine the different pricing benchmarks for loan issuance and repricing, and the actual loan interest rate will be determined by floating on the basis of the anchor pricing benchmark;
2. The degree of marketization of the pricing benchmark is different: the benchmark interest rate is adjusted and published irregularly by the People's Bank of China, and the LPR is published monthly by the National Interbank Funding Center. Compared with the benchmark loan interest rate, LPR has a higher degree of marketization and can better reflect the changes of market supply and demand;
3. The floating mode of pricing is different: the benchmark interest rate pricing generally floats in proportion, while the LPR pricing floats by points.
Since August 25, 2020, ICBC has converted eligible individual housing loans into LPR floating interest rate pricing in batches. If you don't agree with the rules of batch conversion, you can switch from vodka to fixed interest rate pricing through mobile banking, intelligent teller machines and other channels before August 24. You can log in to mobile banking and handle it through the functions of "Favorites-All-Deposits and Loans-Interest Rate Benchmark Conversion-One Click to LPR". After the batch conversion is completed, if there is any objection to the conversion result, you can log in to the mobile banking from September 1 day to February 3 1 day, 2020, and complete the self-service conversion or initiate an objection application to the loan clearing bank through the function of "Favorites-All-Before Deposit and Loan-Interest Rate Benchmark Conversion-Conversion".
Tips:
1. The pricing benchmark is converted into LPR, and the term variety is determined according to the original contract loan term;
2. Pricing benchmark can only be converted once, and cannot be converted again after the conversion is completed.